topic Amex Bonvoy Brilliant CLI in Credit Card Applications

Amex Bonvoy Brilliant CLI

fleetfoot — Wed, 26 Jan 2022 02:02:52 GMT

I've had the Amex Bonvoy Brilliant card for just over 2 years now. Reading on this forum, I learned that I should have requested a credit limit increase on Day 61. So, I tried today and got a request from Amex to access my banking accounts. I complied with the request and entered my logon information for my bank. Does anyone have any experience with this process? Does their request indicate that they are going to deny the increase? Any information about others' experience in this area would be helpful. Thank you.

Re: Amex Bonvoy Brilliant CLI

DONZI — Wed, 26 Jan 2022 09:45:03 GMT

I don't have any experience with the amex account access 'feature', but they do take more into consideration on applications than any of my other cards IIRC.. EG: they offer an option to include a simple net worth figure.

The account access seems similar, and maybe sort of an informal peek into that (net worth) realm -- sort of a confirmation.

In my case I sort of like that option being available more than the other possibilities, financial review or IRS access.

Maybe provide the original credit granted and CLI requested for the Bonvoy? Apparently the increase you're wanting is pushing on the boundary amex computed for your profile.

Basically, to me it seems they want to work with you but they're wanting to feel more comfortable complying with the new limit requested.

Re: Amex Bonvoy Brilliant CLI

fleetfoot — Wed, 26 Jan 2022 13:37:52 GMT

Thank you DONZI. My other concern is probably an unnecessary one. I'm comcerned that Amex might actually decrease credit limits with the new information. If they are looking for validation of income in my bank, they will not get the whole story as about a third of my income is not from salary based deposits into my bank account. I guess I'll continue to worry until I hear back from Amex.

Re: Amex Bonvoy Brilliant CLI

fleetfoot — Wed, 26 Jan 2022 18:41:07 GMT

@DONZI wrote:
I don't have any experience with the amex account access 'feature', but they do take more into consideration on applications than any of my other cards IIRC.. EG: they offer an option to include a simple net worth figure.

The account access seems similar, and maybe sort of an informal peek into that (net worth) realm -- sort of a confirmation.

In my case I sort of like that option being available more than the other possibilities, financial review or IRS access.

Maybe provide the original credit granted and CLI requested for the Bonvoy? Apparently the increase you're wanting is pushing on the boundary amex computed for your profile.

Basically, to me it seems they want to work with you but they're wanting to feel more comfortable complying with the new limit requested.

The original credit limit on the card is $12,400. I requested an increase to $30,000, not the full 3x that I've learned is almost always granted at 61 days after account opening. Again, the card is 2 yrs, 1mo old.

Re: Amex Bonvoy Brilliant CLI

DONZI — Thu, 27 Jan 2022 00:51:36 GMT

I guess they want to evaluate your situation more before granting or countering your 2x+ CLI request.

Seems like a good thing basically.. not an instant denial.

Re: Amex Bonvoy Brilliant CLI

fleetfoot — Thu, 27 Jan 2022 02:00:54 GMT

@DONZI wrote:
I guess they want to evaluate your situation more before granting or countering your 2x+ CLI request.

Seems like a good thing basically.. not an instant denial.

Thanks for your response. I hadn't thought that Amex may be trying to approve my request or to counter my request with a lower CLI offer. My thoughts automatically went to the worst case scenario. Thanks for encouraging me to consider a more reasoned response to the request.

Re: Amex Bonvoy Brilliant CLI

DONZI — Thu, 27 Jan 2022 10:19:03 GMT

You're welcome.

I figure that their interest of your situation and additional time they're spending to review things is certainly hopeful.

They could have been lazy and countered significantly lower or denied outright.

I've a BCE (my first (closed) amex since 1991) that's just over 1yr old. It arrived with a 10k limit and I've yet to go for a CLI on it. I'm somewhat hesitant since I now have two amex charge cards and the BCE has some stiff cash back competition within my growing card lineup.

I suppose that I should give it a whirl though.. I'd be thrilled to get a 3x on the BCE, could help pave the way to getting some of my other credit cards bumped up past the 10k mark.

Re: Amex Bonvoy Brilliant CLI

cashorcharge — Thu, 27 Jan 2022 17:57:54 GMT

Please keep us in the loop @fleetfoot if you proceed with the access requested and the outcome of your actions.

Great advice @DONZI

Re: Amex Bonvoy Brilliant CLI

fleetfoot — Sat, 29 Jan 2022 06:46:35 GMT

@cashorcharge wrote:
Please keep us in the loop @fleetfoot if you proceed with the access requested and the outcome of your actions.
Great advice @DONZI

I will certainly let you know what happens. I already gave Amex the requested information - my logon and pw for my bank. I only gave it for one bank because I did not see how to add another bank. The access I provided Amex will not show all of my income because of that. We will see what happens next. Their original request said that after review, I would receive their decision by USMail.

Re: Amex Bonvoy Brilliant CLI

fleetfoot — Thu, 27 Jan 2022 18:20:52 GMT

I requested the CLI primarily to reduce my utilization rate, although it is not terribly high at this point 14%. I also recently applied for the Chase Freedom Flex for its BT offer for 15 mos. I received word that I was approved and that the transfer is being scheduled, but I am yet to receive the card or see the payment.

Re: Amex Bonvoy Brilliant CLI

DONZI — Sat, 29 Jan 2022 06:39:00 GMT

@fleetfoot I hope all goes in your favor with the CLI request.

I've pondered using the Yodlee service via amex without any request from them, my idea was to sort of massage any future applications, CLI and/or the charge card floating limits... all of that seems to be benefits of allowing them the access.

RE: Why?

Granting ongoing access to your bank account information, including balances, will allow
us to better serve your account(s) and support your spending needs. If you have a small business
account, it may also help us evaluate charges you wish to make and evaluate your creditworthiness,
up to and including your ability to pay your debts with us.

You can opt out by calling the number on the back of your Card at any time.

FWIW: In your case, depending on your comfort level with the access and since the access appears specific to a CLI, I'd imagine that 'ongoing access' isn't required -- once they make a decision you may want to ask them about opting-out.

@cashorchargethanks!

Re: Amex Bonvoy Brilliant CLI

CreditInspired — Sat, 29 Jan 2022 14:36:10 GMT

@fleetfoot wrote:
I've had the Amex Bonvoy Brilliant card for just over 2 years now. Reading on this forum, I learned that I should have requested a credit limit increase on Day 61. So, I tried today and got a request from Amex to access my banking accounts. I complied with the request and entered my logon information for my bank. Does anyone have any experience with this process? Does their request indicate that they are going to deny the increase? Any information about others' experience in this area would be helpful. Thank you.

I really wish you success in getting a "handsome" CLI. I want to say, however, that I would not give my bank log-info to anyone. A mortgage lender who is lending hundreds of thousands of dollars doesn't even request one to do that. IMHO for any similar request, offer to provide a bank statement, paystubs, W2 or 1099.

Just my 2cents.

Re: Amex Bonvoy Brilliant CLI

fleetfoot — Sat, 29 Jan 2022 14:32:19 GMT

@CreditInspired wrote:
@fleetfoot wrote:
I've had the Amex Bonvoy Brilliant card for just over 2 years now. Reading on this forum, I learned that I should have requested a credit limit increase on Day 61. So, I tried today and got a request from Amex to access my banking accounts. I complied with the request and entered my logon information for my bank. Does anyone have any experience with this process? Does their request indicate that they are going to deny the increase? Any information about others' experience in this area would be helpful. Thank you.
I really wish you success in getting a "handsome" CLI. I want to say, however, that I would not want to give my bank log-info to anyone. A mortgage lender who is lending one hundreds of thousands of dollars don't even reques that. IMHO for any similar request, offer to provide a bank statement, paystubs, W2 or 1099.

Just my 2cents.

The request by American Express for access to my bank account said that it was for the sole purpose of considering my CLI and that the logon information will be discarded after their assessment was complete. I now have some regrets about giving them that access and I will certainly change my logon credentials after final determination by Amex.

Re: Amex Bonvoy Brilliant CLI

fleetfoot — Sat, 29 Jan 2022 14:35:43 GMT

@DONZI wrote:
@fleetfoot I hope all goes in your favor with the CLI request.

I've pondered using the Yodlee service via amex without any request from them, my idea was to sort of massage any future applications, CLI and/or the charge card floating limits... all of that seems to be benefits of allowing them the access.

RE: Why?
Granting ongoing access to your bank account information, including balances, will allow
us to better serve your account(s) and support your spending needs. If you have a small business
account, it may also help us evaluate charges you wish to make and evaluate your creditworthiness,
up to and including your ability to pay your debts with us.

You can opt out by calling the number on the back of your Card at any time. 
FWIW: In your case, depending on your comfort level with the access and since the access appears specific to a CLI, I'd imagine that 'ongoing access' isn't required -- once they make a decision you may want to ask them about opting-out.

@cashorchargethanks!

Yeah. Amex claims that the access is time limited to this CLI request and logon information will be discarded after they complete their assessment. I will likely change my bank logon information after Amex is done with it.

Re: Amex Bonvoy Brilliant CLI

coldfusion — Sat, 29 Jan 2022 15:20:47 GMT

@fleetfoot wrote:
@DONZI wrote:
@fleetfoot I hope all goes in your favor with the CLI request.

I've pondered using the Yodlee service via amex without any request from them, my idea was to sort of massage any future applications, CLI and/or the charge card floating limits... all of that seems to be benefits of allowing them the access.

RE: Why?
Granting ongoing access to your bank account information, including balances, will allow
us to better serve your account(s) and support your spending needs. If you have a small business
account, it may also help us evaluate charges you wish to make and evaluate your creditworthiness,
up to and including your ability to pay your debts with us.

You can opt out by calling the number on the back of your Card at any time. 
FWIW: In your case, depending on your comfort level with the access and since the access appears specific to a CLI, I'd imagine that 'ongoing access' isn't required -- once they make a decision you may want to ask them about opting-out.

@cashorchargethanks!
Yeah. Amex claims that the access is time limited to this CLI request and logon information will be discarded after they complete their assessment. I will likely change my bank logon information after Amex is done with it.

Just catching up. Not much to say other than updating your bank login information is a must and in the future you should refuse such a request.

Re: Amex Bonvoy Brilliant CLI

FinStar — Sat, 29 Jan 2022 20:00:49 GMT

@fleetfoot wrote:
@DONZI wrote:
@fleetfoot I hope all goes in your favor with the CLI request.

I've pondered using the Yodlee service via amex without any request from them, my idea was to sort of massage any future applications, CLI and/or the charge card floating limits... all of that seems to be benefits of allowing them the access.

RE: Why?
Granting ongoing access to your bank account information, including balances, will allow
us to better serve your account(s) and support your spending needs. If you have a small business
account, it may also help us evaluate charges you wish to make and evaluate your creditworthiness,
up to and including your ability to pay your debts with us.

You can opt out by calling the number on the back of your Card at any time. 
FWIW: In your case, depending on your comfort level with the access and since the access appears specific to a CLI, I'd imagine that 'ongoing access' isn't required -- once they make a decision you may want to ask them about opting-out.

@cashorchargethanks!
Yeah. Amex claims that the access is time limited to this CLI request and logon information will be discarded after they complete their assessment. I will likely change my bank logon information after Amex is done with it.

Changing your login credentials may give you peace of mind, but they've already captured the data and performed all the analytics behind the scenes when you provided them access to your account(s) 🤷‍♂️ As per their privacy policy, they don't retain the login credentials since it's a one-time event (unless you decide to go that route again). But, they've already collected plenty of data.

Re: Amex Bonvoy Brilliant CLI

fleetfoot — Sat, 29 Jan 2022 20:29:08 GMT

I wish I hadn't given Amex the bank information. As time passes without any contact from them, I feel that it will be a denial of the CLI and the release of information will have been for nothing, not to mention FinStar's concern that they have captured the information they want and now have it for future reference. Ugh!

The fact that I'm waiting for a written response from Amex in the USMail means a denial to me. I may be wrong, but ...

I've been checking my Amex Brilliant account online for any changes to its credit limit - no change to date.

Re: Amex Bonvoy Brilliant CLI

FinStar — Sat, 29 Jan 2022 23:52:48 GMT

Unfortunately, if there's no change to the CL within 72 hours from the time you gave them access to your bank information, then it is likely the CLI request was not approved -- unless there are delays in processing things on the back-end. I'd give it a week to be on the safe side unless you receive the letter within that timeframe.

Re: Amex Bonvoy Brilliant CLI

tparks5961 — Sun, 30 Jan 2022 00:31:32 GMT

Well well well.

I have a long love hate relationship with AMEX... It's been a hot mess , but we're finally starting to get along.

I personally love this feature. I have a restricted AMEX platinum with a preset spending limit. about two weeks ago, I submitted a request to increase the limit and they asked for bank access. As a result my limit was raised from $29,300.00- $35,000.00. Yesterday, I submitted another request to increase the limit again from $35,000.00 - $45,000.00. They again asked for bank access and approved the increase.

Two increases in 2 weeks. This process both times took no more than a day to get the approvals. My last request was submitted yesterday(Friday) and was approved today (Saturday). Give them a call at this point and ask.

Re: Amex Bonvoy Brilliant CLI

fleetfoot — Mon, 31 Jan 2022 19:05:39 GMT

CLI denied.

I received a letter from Amex in the USMail today. My request for a credit limit increase on my Bonvoy Brilliant card was denied. The letter said that the access to my bank that I had granted them indicated I did not have the deposit transactions necessary for them to approve the increase. That makes sense to me since that bank only has about two-thirds of my monthly deposits, and there was no way of indicating additional banks on Amex's original request for access to my bank account.

My fear that they would decrease my limit and/or close the account was not founded. They basically left everything as is. So, I will not be poking Amex again anytime soon. I will also be changing my bank logon credentials TODAY.

Thanks for all the help and suggestions from all of you in myFICO land.